Two Colorado wildfires that have caused more devastation than any wildfire season in the states history are expected to cause nearly $450 million in insured losses, according to a state association.
Catastrophe losses for the first half of 2012 were mild compared to the previous year and notably below the 10 year average, according to a report from German insurer Munich Re.
Creating the years biggest-budget blockbuster films means that actors and film crews must take some big-budget risks, and it is up to insurers to guarantee that in the event of some mishap producers and financiers will have financial protection when production doesnt go as planned.
Reinsurers say companies have suffered intensifying weather-related impacts in the past three years, but fewer than a third of those companies are actively responding to the risk, increasing the likelihood that companies will be unprepared to deal with unimaginable environmental coverage and loss costs.
Reinsurance renewals continue to firm, but ample capacity is offsetting some pricing pressures produced by past catastrophe activity and catastrophe-model changes, says reinsurance broker Guy Carpenter.
Reinsurance renewals continue to firm, but ample capacity is offsetting some pricing pressures produced by past catastrophe activity and catastrophe-model changes, says reinsurance broker Guy Carpenter.
After several years of soft-market conditions, Employment Practices Liability Insurance (EPLI) is experiencing double-digit rate increases, driven in part by claims caused by the recession.
Increasingly, more CEOs and CFOs are taking charge of their companies risk-management duties, according to a Deloitte & Touche and Forbes Insights surveyand the majority of those companies say they plan to implement changes designed to raise the profile of risk management throughout their organization.
In the aftermath of last years record-breaking U.S. thunderstorm losses, risk modelers are scratching their heads to figure out if the countrys storm exposure profile is increasing due to historically inadequate modeling methods or other factors.